TD Asset Management Inc Has $6.96 Million Stake in Stellantis N.V. (NYSE:STLA)

Key Points

• TD Asset Management Inc reduced its stake in Stellantis N.V. by 10.5%, holding 627,471 shares worth approximately $6.96 million after selling 73,751 shares.
• Several large investors have recently adjusted their positions in Stellantis, with Franklin Resources Inc. increasing its stake by 25.7% after acquiring over 1.9 million shares.
• Equities analysts have mixed sentiments on Stellantis, with Jefferies raising its rating to "buy" and a target price of $13.20, while Bank of America lowered its rating to "neutral" with a target price of $11.75.

TD Asset Management Inc cut its holdings in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 627,471 shares of the company's stock after selling 73,751 shares during the period. TD Asset Management Inc's holdings in Stellantis were worth $6,957,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Stellantis in the 4th quarter valued at $1,151,000. LPL Financial LLC increased its stake in shares of Stellantis by 11.0% in the 4th quarter. LPL Financial LLC now owns 184,331 shares of the company's stock valued at $2,406,000 after purchasing an additional 18,302 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Stellantis by 47.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 57,203 shares of the company's stock valued at $717,000 after purchasing an additional 18,414 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Stellantis by 7.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,184 shares of the company's stock valued at $211,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Stellantis by 25.7% in the 4th quarter. Franklin Resources Inc. now owns 9,563,705 shares of the company's stock valued at $124,309,000 after purchasing an additional 1,958,142 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and lifted their price target for the company from $10.25 to $13.20 in a research note on Wednesday, June 25th. Redburn Atlantic lowered Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and decreased their price target for the company from $16.50 to $11.75 in a research note on Monday, July 7th. Wolfe Research downgraded Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Finally, DZ Bank raised Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.74.

Stellantis Stock Down 1.4%

Shares of STLA opened at $8.89 on Friday. The company has a market capitalization of $26.86 billion, a PE ratio of 2.61, a PEG ratio of 0.41 and a beta of 1.44. Stellantis N.V. has a 12 month low of $8.39 and a 12 month high of $16.92. The stock's 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.99. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.37.

Stellantis Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

Want to see what other hedge funds are holding STLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stellantis N.V. (NYSE:STLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.